The stocks are flaring for Elon Musk owned Twitter. Since the purchase, Twitter has been in constant flux financially and behind-the-scenes. It has been a turbulent year for the new CEO with his new venture climbing the financial rung, whereas its other electric car company, Tesla has its stocks crashing making the stockholders unhappy. With his new focus, Elon is bringing new changes to the platform.
The billionaire has taken rather radical steps to reform the microblogging site. When he completed the deal, he sacked half of his employees at the company due to major financial losses, and then he continued the saga. He was losing the advertisers due to erratic behavior, so he introduced a subscription price for the blue checkmark. After it proved debacle, he tweaked it adding more features exclusive for the subscribers. But, he has introduced a new update on the ‘$Cashtags’ feature for all the users.
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Twitter Introduced New Feature Update For ‘$Cashtags’
On December 21st, 2022, Twitter announced a new update to its already existing feature ‘$Cashtags’. The ‘$Cashtags’ are like hashtags, where the users can use the $ symbol and type the name of the stocks e.g., $TSLA to know what is saying about the trading and analysis about the particular stocks. Twitter introduced this feature in 2015. StockTwits were the pioneers, who came up with the idea for cataloging $ tagged-information about the stocks of companies. But, now Elon Musk-led Twitter upgraded the feature introducing data along with the tweets with the typed ‘$Cashtags’.
The Twitter Business handle introduced the new feature. It tweeted the guide on how to go about the new feature which enables the users to access the real-time stock price graphs. Twitter Business wrote, “When you Tweet the symbol of a major stock, ETF, or crypto currency with a $ in front of it (like $BTC), people on Twitter see a clickable link that takes them to search results. Starting today, these search results will include the pricing graphs for major symbols”. The search bar can be used to navigate the stock information with or without “clicking on a link embedded in a tweet”. You do not even have to type the $ symbol.
$Cashtags, now with data 📈
👀 $SPY 👇 pic.twitter.com/XgOK6gf02E
— Twitter Business (@TwitterBusiness) December 21, 2022
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Elon Musk Appreciated The Twitter Team For The New Update
Twitter has partnered with Robinhood.com to monitor the stock price graphs on Twitter. In 2021, the third party-hassle free app became prominent due to the GameStop controversy. A subreddit ‘r/WallStreetsBets’ attacked the Wall Street folks for intentionally affecting the stocks of GameStop. The redditors used Robinhood.com, which offers the users to trade without a fee. After the trading, GameStop stocks shot up to 14,300%. The effect of the app was so prominent that the company took down the trading on the app.
Earlier, Twitter used ‘sentiment tracker’ for $Cashtag to track the fluctuating stock prices of the companies. It tracked the positive or negative sentiments regarding stock prices of certain companies in real time to offer the future stock predictions. It provides a ‘sentiment timeline’ graph like the stock prices graph in the new feature. The new CEO shared the new feature update writing, “One of the many product improvements coming to financial Twitter! Nice work by Twitter team”.
One of many product improvements coming to financial Twitter!
Nice work by Twitter team. https://t.co/CKLH8OtDDW
— Elon Musk (@elonmusk) December 22, 2022
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